The global aviation industry requires $1.8trillion to expand and modernise aviation infrastructure to cater for the anticipated increase in passenger and freight air traffic demand by 2030, a report by Global Investment in Aviation released at the weekend, has shown. This outlook and other challenges in the investment landscape, will dominate discussions at a summit scheduled for next month at the International Dubai Festival City. The summit, it was learnt, is an initiative of the United Arab Emirates General Civil… Read more

Africa’s economic outlook has remained positive since 2016 after the commodity price plunge the previous year, which slowed down the continent’s growth. The recovery of commodity prices and the acceleration of cross-border cooperation have since played a part in the recovery of the region’s economy. As Bloomberg Editor-in-Chief Emeritus Matthew Winkler says, Africa’s economic growth is currently driven by large infrastructure developments happening in multiple countries. Winkler spoke during the recent 2018 Africa Business Media Innovators Forum in Livingstone, Zambia.… Read more

Nigeria will need more than $3 billion to fix oil and gas infrastructure in the next 20 years, Oilserve Group’s Managing Director, Dr Emeka Okwuosa, has said. He said the money would be used to repair and build infrastructures that would put the power, petroleum and allied sector in shape. In a paper titled: “Infrastructural Development: A Key to Economic Growth and Development In Nigeria” and delivered at the 48th convocation ceremony of the University of Nigeria, Nsukka, he said… Read more

Inidogbo community in Ibeju Lekki Local Government Area of Lagos State, through its Community Development Association (CDA), has inaugurated a 33KVA transformer. The project, which was carried out through self-help effort, was in line with the vision of Lagos State Governor Akinwunmi Ambode to provide electricity for all communities in the state through the Light Up Lagos Project initiative. Speaking during the inauguration ceremony at the weekend, the Chairman of the CDA, Mr. Olawale Kazeem, said the self-help project which… Read more

THE Jigawa State Government has approved the release of over N2.9 billion for the construction and equipping of schools, hospitals. Commissioner for Information, Youth, Sports and Culture Bala Ibrahim, who stated this yesterday in Dutse, said the decision was taken at the State Executive Council meeting presided over by Governor Muhammadu Badaru Abubakar. He said: "To ensure that the people have access to secondary healthcare services, the government has approved and awarded the contract for the construction of three new… Read more

Having served as Pro-Chancellor of some federal universities, Dr Bolanle Olawale Babalakin has an idea of what can make them run effectively. He shared his thoughts with some reporters. Kofoworola Belo-Osagie was there. Pro-Chancellor of the University of Lagos, Dr Bolanle Olawale Babalakin is one person who believes that a well-managed education system would take Nigeria to a place of pride in the comity of nations. However, he said this would not happen without investment in infrastructure and judicious management… Read more

The signing into law of the 2018 Appropriation Bill by President Muhammadu Buhari has elicited mixed reactions from stakeholders. While some urge the executive and legislative arms to sheathe their swords to move the country forward, others say the budget may not fulfil its aspirations as it might be bogged down by politicking, report Lucas Ajanaku, Emeka Ugwuanyi, Chikodi Okereocha, Okwy Iroegbu-Chikezie Collins Nweze, Akinola Ajibade and Toba Agboola. Varied reactions have greeted the signing of the 2018 Budget by President… Read more

The African Export-Import Bank (Afreximbank) has expressed its readiness to work with the Federal Government arrange about $1 billion financing for government’s investments in trade-enabling infrastructure. The bank has so far approved financing amounting to $17 billion for Nigerian entities between its commencement of operations in 1994 and last December, its President Benedict Oramah, said. Speaking during the bank’s visit to Nigeria, he said the lender’s facilities had made major impact on critical sectors of the economy. He added that… Read more

Dearth of infrastructure and delayed approvals by governments, ministries, departments and agencies (MDAs) are some of the factors inhibiting the information communication technology (ICT) sector, Lagos Chamber of Commerce and Industry (LCCI), has said. Speaking on the sideline of the media launch of ICTEL Expo, organised by the Chamber at Commerce House, Victoria Island, Lagos, its President, Mr. Babatunde Ruwase, said though ICT continue, to drive the economy, the sector would have done more were basic infrastructure, such as constant… Read more

Dearth of infrastructure and delayed approvals by governments, ministries, departments and agencies (MDAs) are some of the many factors inhibiting the growth of the information communication technology (ICT) sector in the country, Lagos Chamber of Commerce and Industry (LCCI), has said. Speaking on the sideline of the media launch of 2018 ICTEL Expo, organised by the Chamber at Commerce House, Victoria Island, Lagos, at the weekend, its President, Mr. Babatunde Ruwase, said though ICT had continued to drive the growth… Read more

•’Nigeria is safe for tourism’ The Federal Government has spent $9 billion on infrastructure in two years, Minister of Information and Culture Lai Mohammed said yesterday. He also said the nation attracted over $6 billion capital investment and that the Nigerian Stock Exchange (NSE) is rated as one of the best six in the world. According to the minister, Nigeria is safe for for tourism and investment. Mohammed spoke at a news conference in Abuja on the 61st meeting of… Read more

•Ahmed: we’ve fulfilled campaign promises Kwara State Governor Abdulfatah Ahmed has said his administration spent N9.2 billion on infrastructural development in seven years. He noted that despite lean resources, his administration has fulfilled its campaign promises to the people. According to him, about N3.5 billion was spent in Kwara Central; N3.2 billion in Kwara South and N2.9 billion in Kwara North since establishment of the Kwara Internal Revenue Service (KWIRS). He said KWIRS had raised the state's revenue in the… Read more

Vice-President Yemi Osinbajo yesterday said the Federal Government had invested about $10 billion in infrastructure development in the last three years. He said the investment which focused on roads, power and a new national rail network, was unprecedented. Osinbajo spoke in Abuja at the opening session of the Direct Investors Summit Nigeria, organised by Nigeria Investment Promotion Commission (NIPC). He said: “We have in the last three years invested close to $10 billion an unprecedented sum in infrastructure since 2016.… Read more